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New Tax Forms for 2018 Taxes

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    Form 1040 2018 Tax Year

    About Form 1040, U.S. Individual Income Tax Return

    Form 1040 2018 Instructions

    Starting with the 2018 tax year, the familiar 1040 form above has been completely redesigned with much of the previous information and calculations now relegated to a new series of six schedules numbered 1 through 6. Forms 1040A and 1040EZ have been eliminated.

    The new 1040 form is now two "half pages" with the front half page basic information and the second half page the actual calculations. The required information resides only on the top half of each page while the bottom half is left blank. I notice that the font is also smaller. I wonder if this has something to do with Trump's request to cut the form to the "size of a post card". It doesn't save paper if you are printing the form.

    I am just starting to do my taxes and will withhold judgment on how much of an improvement this actually is. For those e-filing it probably makes little difference in the input of data.

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    It definitely was re-designed to get as close to post card size as possible. For sure. The IRS says on their site that 70% of people will benefit from the simplified form by only having to fill out the single simplified 1040. But the rest of us will have to get used to also filing out one or more of the new schedules. So its a mixed bag. If you don't have any special filing needs whatsoever, its an improvement. If you need to itemize anything at all, I think its a bit more cumbersome. Or at least there is a new learning curve.

    But like you said, if you are e-filing, the software will do all this work for you in the background and you won't even notice the difference at all. I think they are also banking on that fact.

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    I finished my 2018 taxes. I had to redo my own Excel spreadsheets but not a big deal. However, I really don't see the point of Schedules 1 thru 6. With the exception of Schedule 1, all of those numbered schedules are just a few lines at the top of the page...a waste of paper with all the blank space below. Plus it's a bit tedious (and a step backward for me) to transfer the total numbers from the alphabetical schedules (e.g. Schedules A, B, C, and D and various numbered Forms) to a new set of numbered Schedules (1, 2, 3, 4, 5, or 6) and to then move those totals to Form 1040 for consolidation and final calculation of taxes. I suppose that's why tax administration and legal firms exist.

    On the other hand, if you use TurboTax or another online tax calculation software, then you won't see any difference in the input of data. The final printouts of Form 1040 and the various new schedules, however, will look different.

    I was surprised to see that I owe money. I thought I had enough withholding.